Southern California -- this just in

Gov. Arnold Schwarzenegger today signed a bill to help speed up construction of an NFL stadium in the San Gabriel Valley.

The legislation exempts the proposed 75,000-seat stadium from state environmental laws and is intended to hasten the planning process. The $800-million project by developer Ed Roski Jr. is planned near the junction of the 57 and 60 freeways.

“This is the best kind of action state government can create: action that cuts red tape, generates jobs, is environmentally friendly and brings a continued economic boost to California,” Schwarzenegger said. “This legislation allows us to move forward with the construction of the nation’s greenest football stadium and create thousands of jobs.”

Construction of the 3-million-square-foot stadium complex is estimated to create more than 18,000 jobs, according to a statement on the governor’s website.

The complex will include an orthopedic hospital, a movie and live performance theater, and office and retail space.
But even in the wake of the bill signing, the stadium faces obstacles.
It remains unclear whether such a large project could get construction loans amid the current credit crunch.

This issue has stalled several other mega-projects in Southern California, including the Frank Gehry-designed Grand Avenue development in downtown Los Angeles.

-- Raja Abdulrahim

Photo: A rendering of the City of Industry site, which would contain retail and office space, practice fields and banquet facilities. Credit: Mike Amaya / Meis Architects